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Thursday, September 12, 2013

Fascinating Sarasota Home Insurance Statistics

According to a Miami Herald article, when Citizen's Insurance sends out it's monthly customer bills, only 31 percent of them go to the same address that is insured.

I've been saying for months that our current real estate recovery is driven by out of town and international buyers, paying cash for properties that have until recently been priced at half what they sold for at the height of the real estate boom of 2004 and 2005.

The rest of the article then delves in to the pluses and minuses of wealthy investors taking advantage of below-market taxpayer subsidized homeowner's insurance. That's another blog post and a discussion of politics that I try to avoid. Suffice to day, without our international and out of state friends investing in FL real estate, our overall economy would not be experiencing the recovery we are seeing today.